Posts
November 19 2020
European investment group’s SPAC Investindustrial Acquisition prices $350 million IPO at $10
Investindustrial Acquisition, a blank check company formed by Investindustrial targeting the consumer, healthcare, industrial, and tech sectors, raised $350 million by offering 35 million units at $10.
www.nasdaq.com
November 19 2020
TMT and entertainment SPAC Liberty Media Acquisition files for a $500 million IPO
Liberty Media Acquisition, a blank check company formed by Liberty Media Corporation targeting TMT and entertainment, filed on Thursday with the SEC to raise up to $500 million in an initial public offering.
www.renaissancecapital.com
November 19 2020
A Tesla rival is going public at a $5.4 billion valuation via a SPAC set up by Marvel Comics’ ex-CEO
British electric-vehicle startup Arrival will go public by combining with a US “blank check company” set up by Peter Cuneo, the former CEO of Marvel Comics and personal care firm Remington Products.
www.markets.businessinsider.com
November 19 2020
How SPACs Became Wall Street’s Money Tree
If you want to see the future of so many of the special purpose acquisition companies currently flooding the market, look to the recent past. Nearly five years ago, Landry’s Seafood billionaire Tillman Fertitta took Landcadia Holdings public to the tune of $345 million. No matter that, true to the SPAC “blank check” model, there was not yet any operating business—dozens of hedge funds piled into its $10-per-unit IPO.
www.forbes.com
November 19 2020
SEC boss Jay Clayton to take a deeper look at the blank-check company boom
Wall Street’s top regulator wants to take a closer look at blank-check companies on his way out the door. Securities and Exchange Commission Chairman Jay Clayton said Thursday that his agency is exploring how to improve disclosures for special purpose acquisition companies, or SPACs, that have become all the rage on Wall Street in 2020.
www.nypost.com
November 18 2020
UK electric vehicle maker Arrival is going public via SPAC at a $5.4 billion valuation
British electric vehicle start-up Arrival announced Wednesday that it will go public through a merger with a U.S. blank-check company. This year has seen a flurry of SPACs, or special purpose acquisition companies, come to market as businesses have shunned the traditional initial public offering process.
www.cnbc.com
November 18 2020
Hemp maker-backed blank-check firm looks to raise $100 mln in IP
Adara Acquisition Corp, a blank-check firm sponsored by hemp producer cbdMD Inc and private equity firm Blystone Donaldson, on Wednesday filed paperwork for a $100 million initial public offering on the New York Stock Exchange.
www.reuters.com
November 17 2020
GCM Grosvenor Announces Completion of Business Combination
GCM Grosvenor, a global alternative asset management firm, and CF Finance Acquisition Corp. (“CFAC”) (NASDAQ: CFFA) announced today that they have completed their business combination. The Class A common stock of the combined company, which will operate as GCM Grosvenor Inc., is scheduled to begin trading on The Nasdaq Capital Market under the ticker “GCMG” beginning on November 18, 2020.
www.tribuneledgernews.com